Assessment 3 Information
|Subject Name:||Advanced Financial Accounting|
|Assessment Title:||Assessment 3|
|Assessment Type:||Statement of Advice|
|Word Limit:||2,000 words (+/- 10%)|
|Submission:||Individual via Turnitin on MyKBS.|
|Due Date:||Tuesday of Week 13 at 19.55 AEST|
You must prepare a Statement of Advice (SoA) that addresses accounting issues raised in a letter that will be made available to you at the start of week 11.
Assume that you are a manager in a consulting and accounting firm, Key Business Services (KBS), located at 1 Main Street, Business District, 1000, Melbourne. Among other things, your firm provides its clients with advice regarding accounting issues, including the application of the Australian Accounting Standards in the preparation of Financial Reports. You have been asked to prepare a Statement of Advice (SoA) for Flummoxed Limited to address several accounting issues raised by Ms. Purp Lex, on behalf of the directors of the company. Ms. Lex has raised these issues in a letter that will be made available to you at 8 a.m. (AEST) on the Monday of week 11.
The maximum length for the SoA is 2,000 words. You should address all the technical issues in your advice, followed by a Reference List. Marks will be awarded based on 2 components:
Technical component 30% – This mark covers the technical content of your advice and the explanation of each of the issues and the sources used. You will be required to analyse information provided and recommend the correct accounting treatment. Your recommendations must be justified by reference to specific paragraphs of relevant accounting standards. Where necessary you will need to explain the rationale behind certain accounting standard requirements.
Communication Skills (Writing Skills) component 10% – marks will be awarded based on your ability to gather information and effectively communicate strategies to the client as part of the SoA. It will also cover the generic skill of writing, clear meaning, structure and organisation, appropriate tone and grammar, spelling, and punctuation, etc., throughout the whole assignment.
Refer to the rubrics at the end of this document for breakdown of marks and expectations for a high score.
- You must include the following in your Statement of Advice (SoA):
- Cover Page which should include:
- name/logo of your accounting and consulting firmThe words “Statement of Advice”Who the document is prepared byWho the document is prepared forDateBrief information on what the document is about
- Recommendations and explanations – include in-text referencingConclusion
- Reference list
- Cover Page which should include:
- Any sources that you use need to be acknowledged in order to avoid plagiarism. Information on referencing can be found under “Study Resources – Academic Skills” on MyKBS at this link.
- You must identify and refer to specific paragraphs of the relevant accounting standards in your advice.
Important Study Information Academic Integrity Policy
KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy.
What is academic integrity and misconduct? What are the penalties for academic misconduct? What are the late penalties?
How can I appeal my grade?
Word Limits for Written Assessments
Submissions that exceed the word limit by more than 10% will cease to be marked from the point at which that limit is exceeded.
Students may seek study assistance from their local Academic Learning Advisor or refer to the resources on the MyKBS Academic Success Centre page. Click here for this information.
|Technical Component (30%)||Excellent: >75%||Average: 75% – 50%||Weak: <50%|
|Advice (30 marks)||30 to 22.5 marks||22.5 to 15 marks||Less than 15 marks|
|All technical issues raised clearly identified and addressed. Clear, correct, and decisive advice provided, displaying an outstanding understanding of each of the technical issues raised, so that it is easy for the client (non-accountants) to understand. Reference has been correctly made to the AASBs with detailed paragraph numbers.||Most technical issues raised reasonably clearly, identified, and addressed. Mostly correct advice displaying a reasonable understanding of some of the technical issues raised, so that it is relatively easy for the client (non-accountants) to understand. Reference has been correctly made (with gaps) to the AASBs with some paragraph numbers.||Most technical issues not identified or addressed. Displays a lack of understanding of some or most of the technical issues raised making it difficult for the client to understand. Little or no reference to the AASBs.|
|Communication Skills Component (10%)||Excellent: >75%||Average: 75% – 50%||Weak: <50%|
|Statement of advice structure (6 marks)||6 to 4.5 marks||4.5 to 3 marks||Less than 3 marks|
|A proper format for a SoA has been used. SoA clearly identifies each issue. Format is effective and professional. In-text referencing included where required. Complete reference list in the right format.||Format of SoA could be improved. Most issues clearly identified. Format effective and professional with some exceptions. In-text referencing mostly included where required. Reference list partly incomplete or not always in the right format.||Proper format not used. Issues not clearly identified Format is neither effective nor professional. In-text referencing hardly or not included at all. Reference list incomplete or not the right format.|
|Language and presentation (4 marks)||4 to 3 marks||3 to 2 marks||Less than 2 marks|
|The presentation is logical, persuasive, and well supported by evidence, demonstrating a clear flow of ideas and arguments. Fluent professional writing style throughout. Grammar and spelling accurate throughout.||Information, arguments, and evidence are well presented, mostly clear flow of ideas and arguments. Reasonably professional writing style. Grammar and spelling mainly accurate||Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. Meaning may be unclear. Grammar and spelling contain numerous errors.|
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